The global eco friendly bottles market
has risen at a rapid pace in recent years in response to the growing
support to environmental causes from governments and the masses alike.
The eco friendly bottles market has been driven by the eagerness of key
competitors to cash in on the growing support to environmentalism, which
has led to consistent innovation, as well as steady government support.
The steady prevalence of these drivers is likely to enable rapid growth
of the eco friendly bottles market in the coming years.
According to Transparency Market
Research, the global eco friendly bottles market was valued at US$2.5 bn
in 2017 and is likely to rise to US$3.7 bn by 2022, exhibiting a strong
8.1% CAGR therein.
Polylactic Acid to Remain Dominant Material
The global eco friendly bottles market
employs a number of materials in order to produce high-quality eco
friendly bottles. Currently, polylactic acid is the dominant material
segment of the global eco friendly bottles market and is likely to
dominate the market’s proceedings in the coming years due to its
widespread usage. Polylactic acid accounted for 35.3% of the global eco
friendly bottles market in 2017 with a valuation of US$902.3 mn. The
segment is expected to rise to US$1,322.8 mn by 2022 at a strong CAGR of
8%. The mechanical properties of polylactic acid make it favorable for
use in the production of bottles, which is likely to ensure steady
growth of the segment in the global eco friendly bottles market in the
coming years.
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North America to Dominate Eco Friendly Bottles Market due to Increasing Mass Participation
The leading regional contributor to the
global eco friendly bottles market is North America, which is likely to
retain its dominance through the forecast period thanks to the
widespread distribution of environment-friendly infrastructure in the
developed region and the steady government support for expansion of the
same. The eco friendly bottles market in North America was valued at
US$617.2 mn in 2017 and is expected to rise to US$1,123.4 mn by 2022,
exhibiting a solid 12.7% CAGR from 2017 to 2022.
Europe to Retain Steady Share, Asia Pacific except Japan Set to Rise
Europe is also an important contributor
to the global eco friendly bottles market and is likely to remain a key
region for technological development as well as sales expansion for the
eco friendly bottles market. Like in North America, the eco friendly
bottles market enjoys solid government support in Europe, where
environmental conservation has been a valued tenet of most governments.
The Europe market for eco friendly bottles accounted for more than 32%
of the global market’s revenue in 2017.
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